city report mumbai office market - BNP PARIBAS - Investment ...

500
ALTERNATE CENTRAL BUSINESS DISTRICT
(ALTERNATE CBD)
Rental Values (in Rs / sq.ft / month)
450
400
350
300
250
200
150
100
50
0
Q3
2008
Bandra - Kurla Complex
Kalina
Q4
2008
Bandra East
Q1
2009
Q2
2009
Q3
2009
Q4
2009
Activity pick up in sales only
The Q4 of 2009 saw lesser activity in this region in terms of leasing
but some sales have been reported between 2,000 - 5,000 sq.ft of
space. A number of new developments are expected to be completed
and will add to new modern stock in the area. Overall, there will be a
lot of supply in this region and will put downward pressure on rents
and capital values..
Bandra - Kurla
Complex
RENTALS OVER THE PAST 6 QUARTERS
Q3
2008
Q4
2008
Source: BNP Paribas Real Estate, India
Q1
2009
Q2
2009
350 350 250 250
Bandra East 230 225 175 175
Kalina 275 250 200 200
Q3
2009
250
175
200
Q4
2009
250
175
200
50,000
45,000
Capital Values (in Rs / sq.ft)
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
—
Q3
2008
Q4
2008
Q1
2009
Q2
2009
Bandra - Kurla Complex
Kalina
Bandra East
Q3
2009
Q4
2009
Bandra - Kurla
Complex
CAPITAL VALUES OVER THE PAST 6 QUARTERS
Q3
2008
Source: BNP Paribas Real Estate, India
Q4
2008
Q1
2009
Q2
2009
35,000 35,000 25,000 25,000
Bandra East 23,000 22,500 17,500 17,500
Kalina 27,500 25,000 20,000 20,000
Q3
2009
25,000
17,500
20,000
Q4
2009
25,000
17,500
20,000
CITY REPORT
MUMBAI OFFICE MARKET - Q4 2009
I8I